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Varieties or Diversity of Capitalism?

In: Diversity of Capitalism in Central and Eastern Europe

Author

Listed:
  • Eric Magnin

    (University Paris Cité)

  • Nikolay Nenovsky

    (University of Picardie Jules Verne
    State University HSE and Department of Political Economy, RUDN)

Abstract

This chapter presents the field of Comparative Capitalism (CC) and its relevance for Central and Eastern European countries (CEECs) since the 1990s. Two main approaches stand out in the abundance of work on this topic in the recent period: varieties of capitalisms (VoC), proposed by Hall and Soskice (Varieties of capitalism: The institutional foundations of comparative advantage. Oxford University Press, 2001), and diversity of capitalism, which falls within the French School of Régulation, promoted by Amable (The diversity of modern capitalism. Oxford University Press, 2003) and Boyer (The regulation school: A critical introduction. Columbia University Press, 1990). Amable criticizes the binary vision of the VoC and opts for a typology that identifies five models of capitalism. In the recent period, CC has been considerably enriched by integrating the concepts of institutional complementarity and hierarchy. The post-socialist transformation is a privileged field of application for CC and contributes to its renewal. Most of the work focusing on CEECs can be grouped according to their proximity to both approaches. However, some authors have developed their own typologies, considering that these two main approaches are not adapted to transition countries.

Suggested Citation

  • Eric Magnin & Nikolay Nenovsky, 2022. "Varieties or Diversity of Capitalism?," Springer Books, in: Diversity of Capitalism in Central and Eastern Europe, chapter 0, pages 11-35, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-04950-7_2
    DOI: 10.1007/978-3-031-04950-7_2
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